Mattern Capital Management LLC Grows Position in Comcast Corporation $CMCSA

Mattern Capital Management LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,484 shares of the cable giant’s stock after purchasing an additional 7,609 shares during the quarter. Mattern Capital Management LLC’s holdings in Comcast were worth $7,905,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Comcast during the first quarter valued at approximately $940,015,000. Dodge & Cox lifted its position in Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. lifted its position in Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after buying an additional 12,586,329 shares in the last quarter. KBC Group NV lifted its position in Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after buying an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock valued at $280,238,000 after buying an additional 4,128,434 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Down 1.7%

CMCSA opened at $30.40 on Friday. The stock has a market capitalization of $112.24 billion, a PE ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94. The firm’s fifty day moving average price is $32.79 and its 200 day moving average price is $34.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 12-month low of $30.38 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. As a group, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s dividend payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Royal Bank Of Canada assumed coverage on shares of Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of Comcast in a research report on Friday, July 18th. The Goldman Sachs Group reduced their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Barclays reduced their target price on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.07.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.